Senior Risk Actuary
The Role
HRI is seeking to recruit a Senior Risk Actuary to lead the work of the Risk function across all facets of capital and risk management.
This is a challenging and highly varied role, encompassing oversight of the Internal Economic Capital Model, Capital Management and Risk Management across Property & Casualty and Life & Health Reinsurance.
The successful candidate will have an inquisitive mind-set, strong technical and influencing attributes, alongside excellent communication skills.
As part of a global organisation, you will work alongside an excellent team in Dublin as well as colleagues in Germany and across the Hannover Re network of global branches and subsidiaries. You will be provided the opportunity to demonstrate and enhance your skill set and to develop your profile within a collaborative company that fosters continuous development.
The role requires strong leadership skills in order to manage and ensure timely and accurate delivery of risk management deliverables. The successful candidate will report to the CRO and will be responsible for co-ordinating the risk activities across a small team.
You can look forward to
Capital & Risk management forms a core part of the strong foundations of the HRI and Hannover Re Group strategy. The individual will be expected to provide leadership across a wide variety of aspects including:
Internal Economic Capital Model
The Company has an approved internal model for regulatory reporting that requires ongoing input, maintenance and validation. The successful candidate will need to become familiar with all aspects of the internal model. Tasks include:
• Overall responsibility in leading and co-ordinating the annual validation of the Company’s Economic Internal Capital Model
• Production of annual validation work, including a comprehensive validation plan to review and challenge the appropriateness of the model
• Regular reporting to the Risk Committee and Board
• Lead the oversight and review of the quarterly internal model results
• Engage with the Actuarial and Underwriting departments to understand the underlying treaties and ensure correct implementation into the model
Capital Management
• Lead the production of the annual, and ad-hoc, ORSA reports
• Ensure consistency with business plan and seek input from management, Risk Committee, and Board, ultimately reaching a conclusion on the solvency of the Company over the business planning horizon
• Review of capital management options to ensure that adequate capitalisation is maintained
• Coordinate a variety of other Risk Management tasks and reporting, providing support to junior members of the team, including:
o Pre-emptive Recovery plan
o Calculation and review of the Standard Formula results
o Regular Supervisory Report and Solvency & Financial Condition report
o Quarterly and annual QRT submissions
o Preparation of materials for the Risk Committee and Board
• EIOPA Stress Testing, Internal Model comparative studies and CBI appropriateness assessments as required
Risk Management
• Ongoing implementation of the Risk Management Framework with reporting to the Risk Committee and Board
• Assist in completion and review of risk registers and risk control templates
• Prepare ALM analysis to support management of interest rate and FX exposure
• Prepare analysis and applications to the CBI for various capital management items
• Oversight and support in the review and sign-off of the capital, liquidity, and risk management implications of new business including the assessment of any material change in risk profile
• Evaluation of Emerging Risks
• Oversight of the Operational Resilience Framework and associated IT governance
• Any other ad-hoc responsibilities and requirements in line with the priorities and needs of the Risk function
You come equipped with
Education and Experience
• Qualified actuary with 2+ years PQE
• Risk Management or Capital Management experience desirable
• Relevant degree in a Mathematics or Actuarial Science discipline
• Track record in developing and implementing solutions and influencing
• Prior experience of reinsurance business, across P&C and L&H, would be an advantage
Skills
• Excellent technical ability and analytical skills
• Excellent leadership skills with the ability to coach junior members of the team
• Strong verbal and written communication skills - ability to present solutions in a clear and concise manner
• Highly organised and strong time management skills - ability to manage workload and competing priorities and deadlines
Person Specification
• Team player and collaborative in nature – works well with others
• Critical thinker - challenges current business practices and thinks outside the box, ability to identify shortfalls and present solutions
• Highly analytical individual capable of forming supportable opinions and suggestions from detailed reviews
• Ability to challenge with assertiveness and influencing skills
• Applies initiative and demonstrates accountability for own role
• Resilient and adaptable, open to change